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Press Conference – Argentina – June 20 2018

ID

513673

DESCRIPTION

Washington, DC --- June 20 20181. External, IMF.

2. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “ I am pleased to announce that the IMF’s Executive Board today has approved Argentina’s request for a 36-month Stand-By Arrangement (SBA) in the amount of US$50 billion.” “The approval today is clear evidence of the international community’s trust in Argentina’s reform drive and support for the government’s economic plan backed by the Fund”.“The IMF is contributing to this effort by providing financial support, which will bolster market confidence, and give the authorities time to address a range of long-standing economic vulnerabilities.”“This is a plan that was designed and which is owned by Argentine authorities. It takes into account their domestic situation. It is geared towards strengthening the economy for the benefit of all Argentines and it does so through four core pillars. And I am going to announce each of the four pillars:“First pillar: It strengthens Argentina’s fiscal position by accelerating the pace at which the federal government’s deficit is reduced.”3. Reporters, Wide Shot.4. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “The second pillar is to actually reduce inflation and we know that inflation generally affects the most vulnerable people in society.” 5. Reporters, Medium Shot.6. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “The third pillar is to protect society’s most vulnerable by ensuring that spending on social assistance as a share of GDP does not decline during the next three years of the program.

7. Reporter typing, Close Up.

8. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “Fourth pillar: It lessens strains on the balance of payments. This involves rebuilding international reserves and reducing Argentina’s vulnerability to pressures on the capital account”

9. Reporters, Medium Shot.

10. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “We embrace this support with great humility and great attention to the domestic situation of all the people of Argentina.”

SHOTLIST

Washington, DC --- June 20 20181. External, IMF.

2. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “ I am pleased to announce that the IMF’s Executive Board today has approved Argentina’s request for a 36-month Stand-By Arrangement (SBA) in the amount of US$50 billion.” “The approval today is clear evidence of the international community’s trust in Argentina’s reform drive and support for the government’s economic plan backed by the Fund”.“The IMF is contributing to this effort by providing financial support, which will bolster market confidence, and give the authorities time to address a range of long-standing economic vulnerabilities.”“This is a plan that was designed and which is owned by Argentine authorities. It takes into account their domestic situation. It is geared towards strengthening the economy for the benefit of all Argentines and it does so through four core pillars. And I am going to announce each of the four pillars:“First pillar: It strengthens Argentina’s fiscal position by accelerating the pace at which the federal government’s deficit is reduced.”3. Reporters, Wide Shot.4. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “The second pillar is to actually reduce inflation and we know that inflation generally affects the most vulnerable people in society.” 5. Reporters, Medium Shot.6. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “The third pillar is to protect society’s most vulnerable by ensuring that spending on social assistance as a share of GDP does not decline during the next three years of the program.

7. Reporter typing, Close Up.

8. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “Fourth pillar: It lessens strains on the balance of payments. This involves rebuilding international reserves and reducing Argentina’s vulnerability to pressures on the capital account”

9. Reporters, Medium Shot.

10. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director: “We embrace this support with great humility and great attention to the domestic situation of all the people of Argentina.”